Exam 21: Flexible Budgets and Performance Analysis
Exam 1: Uses of Accounting Information and the Financial Statements178 Questions
Exam 2: Measurement Concepts: Recording Business Transactions139 Questions
Exam 3: Measuring Business Income: Adjusting the Accounts168 Questions
Exam 4: Foundations of Financial Reporting and the Classified Balance Sheet130 Questions
Exam 5: Accounting for Merchandising Operations177 Questions
Exam 6: Inventories162 Questions
Exam 7: Cash and Internal Control141 Questions
Exam 8: Receivables111 Questions
Exam 9: Long-Term Assets227 Questions
Exam 10: Current Liabilities and Fair Value Accounting179 Questions
Exam 11: Long-Term Liabilities200 Questions
Exam 12: Stockholders Equity196 Questions
Exam 13: The Statement of Cash Flows147 Questions
Exam 14: Financial Statement Analysis164 Questions
Exam 15: Managerial Accounting and Cost Concepts199 Questions
Exam 16: Costing Systems: Job Order Costing121 Questions
Exam 17: Costing Systems: Process Costing139 Questions
Exam 18: Value-Based Systems: Activity-Based Costing and Lean Accounting146 Questions
Exam 19: Cost-Volume-Profit Analysis167 Questions
Exam 20: The Budgeting Process113 Questions
Exam 21: Flexible Budgets and Performance Analysis116 Questions
Exam 22: Standard Costing and Variance Analysis118 Questions
Exam 23: Short-Run Decision Analysis128 Questions
Exam 24: Capital Investment Analysis106 Questions
Exam 25: Pricing Decisions, including Target Costing and Transfer Pricing139 Questions
Exam 26: Quality Management and Measurement101 Questions
Exam 27: Accounting for Unincorporated Businesses106 Questions
Exam 28: Accounting for Investments112 Questions
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Bianca Publishing has a number of investment centers to track on a day-to-day basis.The following represent key figures related to one of Bianca's investment centers for February 2014:
What is the investment center's ROI for February 2014 (rounded percentage answer to two decimal places)?

Free
(Multiple Choice)
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Correct Answer:
D
Variable costing allows a manager to classify controllable costs as
Free
(Multiple Choice)
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Correct Answer:
A
An organization chart assists in management control.
Free
(True/False)
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Correct Answer:
True
What is the business purpose of the balanced scorecard,and how does it benefit an organization?
(Essay)
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A performance management and evaluation system is mainly utilized to account for and report on financial performance.
(True/False)
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Which of the following determines a company's competitive advantage by comparing its performance with that of its closest competitors?
(Multiple Choice)
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For residual income figures to be comparable on a companywide basis,all investment centers must have equal access to resources and similar asset investment bases.
(True/False)
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Identify and describe the five different responsibility centers,and provide one example of each.
(Essay)
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Which of the following is a common assumption in the balanced scorecard?
(Multiple Choice)
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ROI is a performance measure,which uses information only from a company's income statement.
(True/False)
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Determine the April 2014 residual income for an investment center with the following information: 

(Multiple Choice)
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A responsibility center in which the relationship between resources and products or services produced is not well defined is known as a(n)
(Multiple Choice)
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Economic value added is synonymous with shareholder wealth created by an investment center.
(True/False)
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How effective a performance management and evaluation system is depends on how well the goals of individual responsibility centers,the entire company,and managers are coordinated.
(True/False)
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Why is it important that a manager's evaluation be based only on those revenues and costs that he or she can control?
(Essay)
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Identify the following and show the formula for calculating each:
a.ROI
b.RI
c.EVA
(Essay)
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Which of the following statements is true of performance measurement?
(Multiple Choice)
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